On March 8, the UK government’s Department for Exiting the European Union (DExEU) published a statement guaranteeing Gibraltar financial services firms with continued access to UK markets from now until 2020.

DExEU goes on to state that, in the meantime, the UK government will work closely with the government of Gibraltar to design a replacement framework that will last beyond 2020. It is intended that this framework will be based on common high standards of regulation and regulatory enforcement, and underpinned by modern arrangements for information-sharing, transparency and regulatory cooperation.